See how Loomis reduced their 60-day plus overdue debt to less than 1% with Rimilia Cash and Collect.
Prior to the implementation of Rimilia Cash, the cash allocation process at Loomis was remit-heavy and required manual input from staff, which was resource-intensive. Since going live with Rimilia’s award-winning cash allocation software solution, the current combined auto-match rate is operating at 65% with manual processing accounting for only 13%.
These impressive results have been achieved using less resources in a relatively short space of time. The cash and credit control team can now further focus on building customer relationships rather than the allocation of payments.
Rimilia project specialists worked in partnership with Loomis during all stages of the implementation of Rimilia Cash and delivered onsite training to the cash team and credit controllers.
Rimilia Project Analyst Tony Harvey commented;
“Loomis is benefitting greatly from the control that Rimilia has provided. Prior to implementation, it used to take several people to process cash, which proved to be costly on resources. After implementing Rimilia Cash, we managed to reduce this to one, part-time person applying cash, which enabled the credit controllers to focus on more vital areas of work. It was a pleasure to work with the team at Loomis for the duration of this project.”
Mark Beddoe, Financial Systems Manager for Loomis, stated;
“Rimilia Cash has proven to be straightforward to implement and is an easy solution to use.
The levels of automation that Rimilia Cash is able to deliver in our receipt matching process is providing tangible benefits.”